RioCan Real Estate Investment Trust

RioCan Real Estate Investment Trust

21.65
CAD
+0.43
(+2.03%)
0.86EPS
26.37P/E
6.59BMarket Cap
Nov 02Next Earn
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
3.71
3.33
3.4
3.48
3.53
3.66
4.31
3.6
3.7
3.97
3.74
4.13
4.86
4.59
Basic EPS, GAAP
2.3
2.11
0.4
2.53
2.18
1.68
2.52
-0.2
1.89
0.77
0.13
1.58
0.23
0.86
Free Cash Flow per Basic Share
1.35
1.63
1.92
1.31
1.08
1.29
1.85
1.74
1.55
1.65
1.28
1.26
1.47
1.45
Dividend per Share
1.45
1.06
1.01
1.25
1.34
1.44
1.44
1.44
1
1.01
1.07
1.1
1.15
1.16
Book Value per Share
23.01
24.06
23.76
24.08
24.85
25.13
26.14
24.34
25.54
25.73
24.76
25.16
24.37
24.7
Tangible Book Value per Share
23.01
24.06
23.76
24.08
24.85
25.13
26.14
24.34
25.54
25.73
24.76
25.16
24.37
24.7
Basic Weighted Avg Shares
302
308
319
325
327
314
308
318
317
306
300
300
296
293
Sales/Revenue/Turnover
1,121
1,025
1,088
1,133
1,155
1,148
1,326
1,144
1,175
1,214
1,124
1,240
1,437
1,346
Operating Margin (%)
60.3
58.32
55.48
56.16
58.34
56.89
52.06
55.05
54.33
53.22
57.13
53.88
50.38
51.28
Depreciation Expense
2
4
5
4
10
5
4
4
4
5
3
1
2
2
Net Income, GAAP
709
663
142
831
715
528
776
-65
598
237
39
473
69
252
Effective Tax Rate (%)
- -
0.01
0.31
- -
- -
- -
0.18
- -
- -
0.39
- -
- -
- -
- -
Profit Margin (%)
63.25
64.71
13.03
73.3
61.92
46.01
58.5
-5.66
50.92
19.51
3.45
38.2
4.82
18.74
Working Capital
-393
262
782
-1,274
170
-801
-923
-515
-295
-947
-1,097
-680
-550
-348
LT Debt
5,562
6,321
5,005
4,250
5,542
4,869
5,490
6,026
6,193
5,620
5,624
6,267
6,199
6,314
Total Equity
7,272
7,869
7,927
8,010
8,045
7,666
8,305
7,735
7,911
7,729
7,438
7,558
7,157
7,177
Return on Invested Capital (%)
5.11
4.3
4.69
- -
- -
- -
4.77
- -
- -
4.37
- -
- -
5.46
4.41
Return on Capital (%)
7.34
6.22
2.3
- -
- -
- -
6.77
- -
- -
2.86
- -
- -
2.37
3.7
Return on Common Equity (%)
10.24
8.9
1.68
10.59
8.95
6.72
9.72
-0.81
7.65
3.03
0.51
6.31
0.94
3.47

Capital Structure

CAD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
980
1,354
678
LT Borrowings
6,175
5,933
6,314
LT Finance Leases
25
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
294
291
291
Market Capitalization
5,492
5,519
6,594

Working Capital

CAD

•

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
865
964
699
Cash, Cash Equivalents & STI
145
70
67
Accounts Receivable, Net
45
233
134
Inventories
237
236
231
Total Current Liabilities
1,416
1,758
1,047
Payables & Accruals
267
404
370
ST Debt
980
1,354
678
Deferred Revenue
42
- -
- -

Growth Rates

CAD

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
-0.93%
-1.5%
-5.31%
Free Cash Flow
-1.45%
-3.8%
14.75%
Net Income, GAAP
25.16%
-26.58%
-85.36%
Sales/Revenue/Turnover
3.21%
4.97%
15.9%
Total Cash Common Dividend
1.96%
-4.68%
2.58%

Quarterly Revenue

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
303
292
286
358
1,240
2025
356
362
371
348
1,437
2026
322
304
- -
- -
- -

Quarterly Earnings Per Share

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.43
0.41
0.32
0.42
1.58
2025
-0.28
0.49
-0.41
0.43
0.23
2026
0.32
0.52
- -
- -
- -

Quarterly Dividends Per Share

CAD

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.27
0.28
0.28
0.28
1.1
2025
0.28
0.29
0.29
0.29
1.15
2026
0.29
0.29
- -
- -
- -

Company Description

CEO
Jonathan Gitlin
Full Time Employees
516
Sector
Finance
Industry
Real estate investment trusts
Address
RioCan Yonge Eglinton Centre Toronto ON Canada M4P 1E4
IPO Date
Jan 5, 1994
Website
riocan.com
Business
RioCan Real Estate Investment Trust (REI-UN.TO) is one of Canada's largest real estate investment trusts, owning, developing, managing and operating a diversified portfolio of approximately 188 retail-focused properties with a net leasable area of about 33 million square feet, including grocery-anchored open-air centres, mixed-use urban developments, enclosed malls and necessity-based retail spaces anchored by tenants such as Loblaws, Canadian Tire, Winners, Dollarama and Metro; office spaces; and residential properties under the RioCan Living brand offering purpose-built rental apartments and ultra-luxury condominiums. The portfolio concentrates in Canada's six major markets of Toronto, Montreal, Ottawa, Calgary, Edmonton and Vancouver, primarily in high-density, transit-oriented locations. Founded in 1993 as Counsel REIT and renamed RioCan REIT in 1995, the company is headquartered at RioCan Yonge Eglinton Centre in Toronto, Ontario. In recent developments, RioCan acquired a 50% interest in The Underwood, a purpose-built downtown Calgary rental high-rise, from Western Securities in early 2024 as part of its strategy to expand residential holdings and grow net operating income to $55-60 million by 2025-2026 through selective acquisitions and organic development; completed a $200 million issuance of Series AP senior unsecured debentures; renewed its normal course issuer bid for units starting November 2025; and hosted a 2025 Investor Day outlining strategic priorities and a three-year financial outlook through 2028, while reporting strong second-quarter 2025 results with 9.3% growth in funds from operations per unit.

Company News

  • RioCan Real Estate Investment Trust Announces October 2026 Distribution

  • RioCan Real Estate Investment Trust Announces the Return of Chief Financial Officer

  • RioCan Real Estate Investment Trust Schedules Third Quarter 2026 Earnings Release, Conference Call and Webcast

  • RioCan Real Estate Investment Trust Announces September 2026 Distribution

  • RioCan Real Estate Investment Trust Announces August 2026 Distribution

  • RioCan Real Estate Investment Trust Q2 Earnings Call Highlights

  • RioCan REIT: A Retail Leasing Supercycle, But Not Enough Margin Of Safety

  • RioCan Real Estate Investment Trust (REI.UN:CA) Q2 2026 Earnings Call Transcript

  • RioCan Delivers Strong Second Quarter Performance; Retail Committed Occupancy Climbs to 98.8%, Reflecting Sustained Demand for RioCan's Portfolio

  • RioCan Real Estate Investment Trust Announces July 2026 Distribution

  • RioCan Real Estate Investment Trust Announces Appointment of Susan McArthur to the Board of Trustees

  • RioCan Real Estate Investment Trust Announces June 2026 Distribution

  • RioCan Real Estate Investment Trust Announces Results of Voting at its Annual Meeting of Unitholders

  • RioCan Real Estate Investment Trust Announces May 2026 Distribution

  • RioCan Real Estate Investment Trust (REI.UN:CA) Q1 2026 Earnings Call Transcript

  • RioCan's Retail-Focused Strategy Delivers Strong First Quarter Results - Record 25.8% Blended Leasing Spreads, 4.7% Commercial Same Property NOI Growth and Continued Monetization of RioCan Living

  • RioCan Real Estate Investment Trust Announces April 2026 Distribution

  • RioCan Real Estate Investment Trust Schedules First Quarter 2026 Earnings Release, Conference Call and Webcast

  • RioCan Announces Interim Chief Financial Officer Appointment

  • RioCan Real Estate Investment Trust Announces March 2026 Distribution